Sodastream Stock Rises as Bubble Maker Earnings Beat Estimates

by TheStreet
0:57 mins

Sodastream Stock Rises as Bubble Maker Earnings Beat Estimates

by TheStreet
0:57 mins

Sodastream shares are higher in Wednesday's trading after reporting earnings that blew away expectations. Earnings of 43 cents a share crushed estimates by 13 cents, but were far below earnings of 60 cents a share in the second quarter last year. Revenues of $141.2 million beat estimates and were roughly $9 million higher than the same period last year. Despite the positive quarter, Sodastream lowered its profit projections for the second half of the year. The more conservative projections come as a result of poor U.S. performance. Sodastream plans to rebrand itself in the U.S. as a health and wellness brand in order to improve sales in the region. Sodastream shares are down nearly 37% for the year. Whalen MacHale reports for TheStreet from New York.